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Cosmetics maker gets $9.3M in incentives for Paterson project

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Hackensack-based cosmetics manufacturer Biogenesis was approved Thursday for a 10-year, $9.3 million Grow New Jersey award from the state Economic Development Authority to move its operations to Paterson.

The project would retain 62 state-based employees and create an additional 16 full-time positions. Biogenesis is said to also be considering an alternative site for the project in Orangeburg, New York.

According to the EDA, the project would yield an estimated net benefit of $8.9 million back to the state over a 30-year period.

Other notable awards:

Company: Turtle & Hughes Inc.
Service: Electrical and industrial communication supplies
Location: Piscataway
Award: 10-year, $6.4 million Grow NJ
Benefit: $42.7 million over 20 years
Notable: Would create 47 full-time jobs, retain 251 full-time jobs.

Company: United States Cold Storage
Service: Refrigerator warehousing and logistics
Location: Camden
Award: 10-year, $9.7 million Grow NJ
Benefit: $26.8 million over 35 years
Notable: Would retain 89 full-time jobs.

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